Karen Mansfield/Loan Officer NMLS Lic. #252368

Planning to Move? You Can Still Secure a Low Mortgage Rate on Your Next Home This year, mortgage rates have started to slowly climb above recent record-breaking lows. Many homeowners planning to move may feel like they’ve missed the chance to score a great rate on their next mortgage. In reality, there’s still time to secure a rate far below the historic norm. After creeping up, average mortgage rates have dropped more recently. With rates taking a slight dip over the past tw...o weeks at the same time the inventory of houses for sale is so low, homeowners today are sitting in the optimal seat to sell. What’s the advantage to selling your house now? Securing a low mortgage rate on your next home. Experts are encouraging homeowners to act now before interest rates climb. Danielle Hale, Chief Economist at realtor.com, explains, mortgage rates slid for a second week ... but we don’t expect rates to stay at... #expertanswers #stayinformed #staycurrent

Home Is Where the Heart Is [INFOGRAPHIC] There’s no doubt about it: homeowners love their homes, and that feeling has become even more important over the past year. The vast majority of homeowners say they’re emotionally attached to their home and that it has kept them safe during the COVID-19 pandemic. Owning a home provides a sense of safety, security, and accomplishment. DM me to move your homeownership goals forward today. #realestate #homeownership #homebuying #realestategoals

You’ve decided to renovate, but where to begin? Start with a checklist of all the people you’ll need to contact, consult, and compensate for a successful project. https://bit.ly/3smDmTN

93% of Americans Believe a Home Is a Better Investment Than Stocks A recent Survey of Consumer Finances study released by the Federal Reserve reveals the net worth of homeowners is forty times greater than that of renters. If you’re wondering if homeownership is a good investment, the study clearly answers that question, and the answer is yes. Do Americans believe a home is a better investment than stocks? In a post on the Liberty Street Economics blog, the Federal Reserve Ba...nk of New York notes that 93.3% of Americans believe buying a home is definitely or probably a better investment than buying stocks. The survey also shows a wide range of reasons why Americans feel that way, with the top answers being that housing prices are less volatile, it provides stability in a desired living environment, and for tax reasons. The data show how strongly Americans believe in homeownership as an investment... #realestate #homeownership #homebuying #realestategoals

If you live in a historic home, you’re preserving a small chapter of the American story. Your vision of a personal future must agree with the standards of a mutual history, so know your rehab options going in. https://bit.ly/3tEtXIC

In December 2020, the average rate on a 30-year-fixed mortgage dropped to its lowest level in history. So far in 2021, rates have remained close to that all-time low. Don’t miss this opportunity to get a super-low rate. Contact us today to see if a refi is right for you!

Multigenerational Housing Is Gaining Momentum [INFOGRAPHIC] If your house is feeling a little cramped with the addition of adult children or aging parents, it might be time to consider a move-up into a multigenerational home that better suits your changing needs. With benefits that include a combined homebuying budget and shared caregiving duties, an increasing number of households are discovering the value of a multigenerational home. With such high demand for houses today, now is a great time to sell so you can upgrade to a multigenerational home that may better suit your evolving needs. #realestate #homeownership #homebuying #realestategoals

How Much Time Do You Need To Save for a Down Payment? One of the biggest hurdles homebuyers face is saving for a down payment. As you’re budgeting and planning for your home purchase, you’ll want to understand how much you’ll need to put down and how long it will take you to get there. The process may actually move faster than you think. Using data from the U.S. Department of Housing and Urban Development (HUD) and Apartment List, we can estimate how long it might take someon...e earning the median income and paying the median rent to save up for a down payment on a median-priced home. Since saving for a down payment can be a great time to practice budgeting for housing costs, this estimate also uses the concept that a household should not pay more than 28% of their total income on monthly housing expenses. According to the data, the national average for the time it would take to save for a 10% down payment... #firsttimehomebuyer #downpayment #opportunity

Latest Jobs Report: What Does It Mean for You & the Housing Market? Last Friday, the Bureau of Labor Statistics released a very encouraging jobs report. The economy gained 916,000 jobs in March well above expert projections of 650,000 to 675,000. The unemployment rate fell again and is now at 6%. What does this mean for you? Our lives are deeply impacted by our nation’s economy. The better the economy is doing overall, the better most individuals in the country will do as w...ell. Jason Schenker of Prestige Economics says, "People are getting back to work and the vaccine isn't just inoculating the population, it's clearly inoculating the economy." What does this mean for residential real estate? Today, the biggest challenge for homebuyers is the lack of homes currently for sale. With listing inventory down 52% from a year ago, bidding wars are skyrocketing. As a result, home prices are climbing... #realestate #homeownership #homebuying #realestategoals

Have your space and own it too! If you’d like to roam while owning a home, we might just have the right financing option. See how a USDA Rural Development loan could give you the freedom you want! Contact me today to get started!

Buying your first home is a huge life decision, and understanding your complete financial picture lets you proceed with confidence. Homebuyer programs and sound practices help you budget effectively for the big buy. Read more here: https://bit.ly/3xaMtdF

Your Tax Refund and Stimulus Savings May Help You Achieve Homeownership This Year If you’re planning to buy a home this year, saving for a down payment is one of the most important steps in the process. One of the best ways to jumpstart your savings is by starting with the help of your tax refund. This year, the Internal Revenue Service (IRS) estimates Americans can expect an average refund of $2,925 when filing their taxes. Thanks to programs from the Federal Housing Authori...ty, Freddie Mac, and Fannie Mae, many first-time buyers can purchase a home with as little as 3% down. In addition, Veterans Affairs Loans allow many veterans to put 0% down. You may have heard the common myth that you need to put 20% down when you buy a home, but thankfully for most homebuyers, a 20% down payment isn’t actually required. It’s important to work with your real estate professional and your lender to understand... #Taxrefund #downpayment #firsttimehomebuyer #opportunity See more

Why This Is a Great Year to Sell Your Vacation Home As vaccines are administered and travel resumes, many of us are beginning to plan for those long-awaited vacations we missed out on over the past year. Some households are focusing their efforts on buying a vacation home rather than staying in a hotel, too. The National Association of Home Builders (NAHB) reports, Second homes (i.e., homes sold to buyers who are not going to occupy the home year-round, but use it as a vacat...ion home, investment property, etc.) account for 15 percent of new single-family home sales. It’s not surprising that there’s an increase in demand for vacation homes. The majority of Americans are realizing they prefer to be around small groups, as shown in a recent survey from The Harris Poll. Social distancing taught consumers new things about how they like to socialize; (75%) said, ‘during COVID social distancing I... #Sellyourhouse #moveuphome #dreamhome #realestate

What if we told you it’s possible to choose what makes you happy, all while setting yourself up for success? Well, it is! When you’re considering whether to refinance your mortgage or buy a home, we’ll help you understand your options. Start the conversation with one of our local mortgage experts today!

There’s No Reason To Panic Over Today's Lending Standards Today, some are afraid the real estate market is starting to look a lot like it did in 2006, just prior to the housing crash. One of the factors they’re pointing to is the availability of mortgage money. Let’s alleviate these concerns. the Mortgage Credit Availability Index stood at about 400 in 2004. Mortgage credit became more available as the housing market heated up, and then the index passed 850 in 2006. When the ...real estate market crashed, so did the MCAI (to below 100) as mortgage money became almost impossible to secure. Thankfully, lending standards have eased somewhat since. The index, however, is still below 150, which is about one-sixth of what it was in 2006. Why did the index rage out of control during the housing bubble? The main reason was the availability of loans with extremely weak lending standards. Lenders were... #realestate #homeownership #homebuying #realestategoals